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Manhattan Loft Guy

Oct. 29, 2007 - New Listings + Sales of Manhattan lofts in last 7 days


This is my second report on the number, price distribution and neighborhood distribution for Manhattan lofts reported as new to the market or as closed sales in the last 7 days.

For information about how I get this stuff and why I slice it as I do, see methodology for New + Sold in The Last Seven Days.
Further wrinkle on the 'quality' of the statistics reported: some new developments will report an occasional contract at the same time they report the unit is On The Market. I noticed one such example this week at The District, 60 Ann Street. I suspect that this occurs sometimes due to poor record-keeping and I know that it sometimes occurs because the developer will release a specific unit for sale because a specific buyer wants that unit ("I am not interested in #7C but would buy #17C f you released it now") or because the developer announces a string of "pre-sales" contracts taken before they began actively marketing (such as at The Alexander, 250 East 49 Street) this week.

I am still at the stage of just spitting this out, without analysis of any weight. The stats as of this morning ...
  • there were 45 lofts reported as new to the market in the last 7 days, and 11 as sold
  • about 70% of the new ones are offered under $2mm
  • 40% of the new loft listings are in new developments, and 2 of 11 of the closed sales
By price
New = 45
Sold = 11
$500k to $999k
13
5
$1mm to $1.99mm
19
1
$2mm to $2.99mm
4
5
$3mm to $3.99mm
2
$4mm to $4.99mm
4
$5mm+
3



By neighborhood
New = 45
Sold = 11
Chelsea
3
Clinton
1
EastVillage
3
1
Financial District
1
2
Flatiron
5
Gramercy
2
Greenwich Village
4
3
Kips Bay
10
Little Italy
Lower East Side
1
Murray Hill
2
Midtown West
SoHo
4
1
Tribeca
3
2
TurtleBay
5
Upper East Side
1
1
Upper West Side
WestVillage
1


New loft listings in new developments
60 Ann Street (District)
1
16 West 19 St (Jade)
1
114 East 32 St (Jasper)
10
304 Spring St
1
250 East 49 Street (The Alexander)
5


Sold lofts in new developments
88 Laight Street
1
259 East 7 Street (FlowerboxBuilding)
1
© Sandy Mattingly 2007


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on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate

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